Edo

Ease of Doing Business in

Edo - Nigeria

This page summarizes Doing Business data for Edo. The first table shows its rank among 37 cities/regions in Nigeria. The rest of the tables summarize the key indicators for each topic and benchmark against regional and high-income economy (OECD) averages.

Economy Overview

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Economy Summary
Starting a Business
Dealing with Construction Permits
Registering Property
Enforcing Contracts
Region Sub-Saharan Africa
Income Category Lower middle income
Population 162,470,737
GNI Per Capita (US$) 1,200.00
Ease of Doing Business Rank among 37 cities in Nigeria Top city in Nigeria
21 Jigawa
Topic Rankings Rank among 37 cities in Nigeria Top city in Nigeria
Starting a Business 16 FCT
Dealing with Construction Permits 26 Jigawa
Registering Property 32 Gombe
Enforcing Contracts 6 Katsina

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Subnational Data


Starting a Business

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The challenges of launching a business are shown below. Included are: the number of steps entrepreneurs can expect to go through to launch, the time it takes on average, and the cost and minimum capital required as a percentage of gross national income (GNI) per capita.

Indicator Edo Sub-Saharan Africa OECD

The total number of procedures required to register a firm. A procedure is defined as any interaction of the company founders with external parties (for example, government agencies, lawyers, auditors or notaries).

View methodology Procedures (number)
8 8 5

The total number of days required to register a firm. The measure captures the median duration that incorporation lawyers indicate is necessary to complete a procedure with minimum follow-up with government agencies and no extra payments.

View methodology Time (days)
45 34 12

Cost is recorded as a percentage of the economy’s income per capita. It includes all official fees and fees for legal or professional services if such services are required by law.

View methodology Cost (% of income per capita)
60.5 67.3 4.5

The amount that the entrepreneur needs to deposit in a bank or with a notary before registration and up to 3 months following incorporation and is recorded as a percentage of the economy’s income per capita.

View methodology Paid-in Min. Capital (% of income per capita)
0.0 116.0 13.3
No. Procedure Time to Complete Associated Costs
1 Check the availability of company’s name with the Corporate Affairs Commission (CAC) 7 days NGN 200
2 Prepare the requisite incorporation documents and pay the stamp duty 7 days NGN 16,098 (stamp duty at 0.75% of share capital + NGN 1,000 for extra stamped copy of memorandum and articles of association + NGN 500 for incorporation forms + NGN 3,000 transport costs to Asaba)
3 Declaration of Compliance (Form CAC 4) signed before a Commissioner for Oaths or notary public 1 day NGN 200
4 Register the company with the Corporate Affairs Commission 21 days NGN 67,000 (NGN 40,000 for legal fees + registration fees of NGN 10,000 for first 1,000,000 share capital and NGN 10,000 for each additional 1,000,000 + NGN 7,000 for certified true copies of memorandum and articles of association and particulars of directors and shareholders)
5 Register with the integrated Tax Office of the Federal Board of Inland Revenue for income tax and VAT 7 days No cost
* 6 Register for personal income tax PAYE at the State Tax Office 2 days No cost
7 Register business premises with the Ministry of Commerce and Industry 1 day No cost
8 Pay registration fees for business premises into a government account at a designated bank 1 day NGN 10,000
* Takes place simultaneously with another procedure.
Subnational Data

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